Malawi is economically doing well – Mutharika

Malawi President Peter Mutharika has said the country is economically on track to recovery and blasted the International Monetary Fund (IMF) for giving people what he called ‘the false impression’ that his reforms were not working.

The IMF experts had said last month that Malawi was flying through a serious economic turbulence because of weak fiscal measures being implemented by the Mutharika regime.

Mutharika: Our economy is on track

“The Malawian economy is facing difficult challenges… Real GDP growth is projected to fall to 3 percent in 2015 from 5.7 percent in 2014″ said the IMF mission to Malawi while singling out Peter Mutharika’s gratuitous spending as one reason for the current economic meltdown.

But the president said the remarks were misleading and not reflective of the country’s economic status.

“The IMF mission has undertaken the seventh review of the Extended Credit Facility (ECF) arrangement and examined our country’s macroeconomic context. The mission commended the Government for actions taken to bolster the financial sector, including the action on recapitalization of locally-based banks to significantly reduce vulnerabilities in the financial sector.

“The IMF confirmed that Malawi has met most of the program targets, including Net International Reserves and Net Domestic Assets of the Reserve Bank of Malawi. This is important because some have given our people a false impression that the entire economy is off-track.” said the President while opening the 46th session of the Malawi National Assembly in Lilongwe.

President Mutharika, who was highly selective of the IMF statement, clarified while the international monetary body had pinned Malawi’s economy as being off track.

“We met all the targets except for the target of Central Government net domestic borrowing. We had an over-expenditure of 2% of GDP in the second half of the 2014/2015 year in wage bill. The country also delayed the implementation of structural improvements in the Public Finance Management. These are the ones that led to a conclusion that the EFC programme is off-track.

Mr President,dont waist ur precious tym with these nonsense accussations coz all the Ghost workers are against this reforms.What ican tell them z the honeymoon z over.Proud of u Mr President.All the best

There’ll be a time when imf will be the talk of the past,this organisation z not helping developing african cntries bcoz they still want to rule over them,but what they should know z that one day its mandate will not be heeded by these trampled(down troden)cntries,becoz they’ll realise that this organisation z not good to african cntries,it pretend to be a good friend but its a hawk among chicks.This will come to pass.

Siuja amati amene akufuna kulemera achoke m’boma akayambe ntchito ku makapani chifukwa boma liribe chuma. Ndinso saonjedzera malipiro. In fact he said by December 2015, the govt will meet all that IMF had recommended. This was just two months ago. Effectively, he was agreeing that our economy is off track. Why change tune now?? Who is fooling who?? All of our economic indicators are in the red bwana Peter. Magesi mwakweza dzana, sugar dzulo, fisp simunagawe koma mvula yagwa. Chilungamo chasowatu.

The man is going crazy before everything get out of hand send him to Zomba Mental Hospital, he must be thinking Malawians are stupid .Just as his Bingu was scrapped off , he is also going to be scrapped off. Malawians are stranded just within one year and he think everything is alright ??.

Bwana Peter , you could have told the IMF guys the time they were telling you all what you are saying in the November House otherwise I know that the IMF told you in August that the ecconomy is not performing well.

You have now accumulated enough wealth that is why you are big headed even to an extent of telling the IMF off. You go in all the hospitals in all the districts just to see by yourself how people are suffering , government boarding school student have no food , contractors doing government jobs are not being paid , government cheques are bouncing and worse more all the government ministries are not being funded according to the money allocated to all ministries by the approved budget of 2015 to 2016

Yes There Evidences To That Which Include: Taking 120 Deligates To UNGA, BUYING EXPENSIVE VEHICLES FOR The Leader Of The Opposition, Speaker And Deputy Speakers.The Idea Of Employing Players For Civil Service United, The Delay In Distributing Farm Inputs Subsidy, The Failure By The Government To Employ Nurses, Doctors And Teachers Are Some Of The Indicators That Our Economy Is On Track